Global Markets React to New Tariffs

In a significant move, United States President Donald Trump announced a new global 25% tariff on all aluminum and steel imports. This decision has sent ripples through the global markets, with investors quickly turning to safe-haven assets such as gold and silver.

Gold Prices Soar

As a direct consequence of the announcement, gold prices surged by 1.12% to reach an unprecedented high of $2,892.20 per ounce. Similarly, silver saw an increase of 0.60%, trading at $32.05 per ounce. Platinum and palladium also experienced slight upticks, with platinum climbing by 0.30% to $985.33 per ounce and palladium nudging up by 0.04% to $963.47 per ounce.

Investor Sentiment

The announcement has led to a cautious approach among investors, with many seeking refuge in precious metals. The market's reaction underscores the global economic uncertainty triggered by the new tariffs and the potential for reciprocal measures from other countries.